Gravity, a leading active entertainment provider, is set for expansion with £30m funding.
- Irwin Mitchell advised Gravity, ensuring strategic investment from Sculptor Real Estate.
- The new funds aim to boost Gravity’s growth domestically and internationally.
- Current expansion includes Liverpool One and Westfield Stratford sites.
- Gravity’s revenue shows strong growth, expected to exceed £50m by 2024.
Gravity, a prominent name in the UK’s active entertainment sector, has secured up to £30m in funding to fuel its ambitious growth strategy. This financial leap is made possible with strategic advice from the national law firm Irwin Mitchell and the significant backing of Sculptor Real Estate, a branch of Sculptor Capital Management. The move marks a significant step in Gravity’s plan to elevate its market presence and enhance customer experiences.
Established in 2014, Gravity started its journey as a trampoline park operator and has since expanded to 17 locations across the UK, making it a frontrunner in the industry. The recent opening of international franchises in Mauritius and a new venue in Saudi Arabia underscore its global ambitions, taking the total count to six franchise sites worldwide.
Irwin Mitchell’s comprehensive legal guidance has been pivotal in this venture. Led by Banking partner Paddy Sturman, with assistance from Charley Brennan and Mark Appleby, the team navigated the complexities of funding, ensuring all corporate and property matters were adeptly handled. This collaboration facilitates Gravity’s roadmap to expand, including the launch of new Gravity Max venues in Liverpool One and Westfield Stratford by late 2023.
Beyond geographical expansion, Gravity plans to enhance existing venues, focusing on refurbishments to uplift customer experiences. Efforts to innovate internal systems are underway, aimed at optimising the customer journey and fostering brand loyalty. The addition of strategic hires to strengthen senior leadership further indicates Gravity’s commitment to sustaining its upward trajectory.
Despite economic challenges, Gravity’s financial performance remains resilient with revenues surpassing £27m in 2022, marking a substantial increase from £17m in 2021. With projections set over £50m for 2024, the company is steadfast in its vision for growth, backed by assured revenue streams and a robust pipeline of upcoming projects.
James Knowles, Property partner at Irwin Mitchell, expressed optimism, “We have been advising Gravity on its property work since inception and are pleased to be advising on this new funding which will enable the business to ensure its future expansion plans.” His statement resonates with the confidence in Gravity’s potential and the strategic alignment of its growth initiatives.
With strategic investments and a clear vision, Gravity is well-positioned to enhance its market leadership and expand globally.
